Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Multi-Use Corner Development Land Title is generated by Realmo AI

    3565 Fm 1461, McKinney, TX 75071

    View on Map
    Claim this Listing
    Pending
    $4,200,000

    LAND - McKinney, TX

    Type:Retail
    Lot size:
    7.72 Acres
    Added:
    Oct 27, 2025
    Days on Market:
    220
    Last Refresh:
    Jun 3 at 10:06 pm

    Property Features for 3565 Fm 1461

    General Information

    Property type
    Land
    Property subtype
    Retail
    Parking features
    Boat, RV
    Fencing
    Gate
    Standard status
    Pending
    APN
    R683800006601
    Lot size
    7.72 Acres

    Taxes and HOA fees

    Tax Description
    ABS A0838 JOEL F STEWART SURVEY, TRACT 66, 7.
    Tax Annual Amount
    15936

    Utilities

    Utilities
    Propane
    Sewer type
    Septic Tank
    Heating system
    Electric (Heating), Central
    Cooling system
    Electric, Central Air
    Water source
    Public

    Building Details

    Year built
    1975
    Additional Structures
    Barn(s)

    We can help!

    Listing Contact
    Todd Milligan
    Todd Milligan

    Listing agent Todd Milligan License #0742321

    Listing office Designer Realty Dallas, TX

    Listing date Oct 27, 2025

    MLS# 20865287 Listing URL

    Copyright © 2026 North Texas Real Estate Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 7.72‑acre corner lot in the ETJ of McKinney with 432 ft frontage to FM 1461‑Lake Forrest Rd
    • Front 3 acres zoned Commercial; back 4.72 acres has 1D1 Ag exemption
    • Includes 1,225 SF retail office space building plus an 8,349 SF outdoor warehouse building
    • Also includes 2,520 SF outdoor storage building and is currently used as a retail nursery‑landscape
    • Utilities and services: propane, public water, and septic tank; includes a 60‑ft easement along the creek for future sewer connection
    • Two main entrances with access from FM 1461‑Lake Forrest and Baxter Well Rd; fencing includes a gate

    Overview

    This multi-use corner property offers a mix of improvements and flexible development planning. The frontage area is currently zoned Commercial, while the back portion carries an 1D1 Ag exemption. Existing use includes a retail nursery-landscape operation, supported by a 1,225-square-foot retail office space building, a large 8,349-square-foot outdoor warehouse building, and an additional 2,520-square-foot outdoor storage building. The site also includes a 60-foot easement along the property creek, identified for future sewer connection.

    The tract sits in the ETJ of McKinney and features two main entrances on FM 1461-Lake Forrest and Baxter Well Rd. It is described as being one block northwest of the upcoming newly routed US 380 highway and near future roadway widening tied to Lake Forrest Dr. The property is positioned close to the Painted Tree residential development and Baylor Scott & White hospital.

    With frontage and on-site operational infrastructure, the property may fit buyers seeking a commercial, storage, retail, or multi-family housing redevelopment path. The combination of existing structures, dual zoning status, and creek easement for utilities can support a range of end uses, subject to approvals. For users and investors evaluating growth-driven sites, this land offering presents a substantial opportunity to capture multi-purpose demand in a rapidly developing area.
    Property Profile Location Intelligence

    Current Use by Public Records

    North Texas Palm's ... Garden Center

    Suggested Use

    Law Firm Building Supply Auto Repair Shop Gym & Fitness Center Auto Parts Store Kitchen & Bath Showroom HVAC Service Storage Facility Grocery & Convenience Store Bar & Pub

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    McKinney
    County
    Collin
    State
    Texas
    Longitude
    -96.681274
    Latitude
    33.252665

    Nearby Similar for Sale

    • $995,000

      Turnkey Furnished Office Suites

      Two upgraded, fully furnished suites combine for flexible office and classroom setups with added sound and lighting features.
      2001 Auburn Hills Parkway, McKinney, TX 75071
      View Details
    • $950,000
      1,500 SF

      Retail Condo with Spa Lease

      Fully developed retail condo offering long-term income with a remaining 7+ year spa tenant lease.
      4041 S Custer Road, McKinney, TX 75070
      View Details
    • $1,000,000

      Remodeled Retail Office Building

      Newly remodeled with updated interiors and flexible workspaces, positioned near McKinney’s historic downtown for owner-users or investors.
      500 S Tennessee Street, McKinney, TX 75069
      View Details
    • $939,000

      Fully Furnished Office Suites

      Move-in ready, high-finish office units offer immediate setup and flexible space options for owner-occupants or executives.
      2797 S Stonebridge Drive, McKinney, TX 75072
      View Details
    • $965,500

      Three-Suite Professional Office Building

      Turnkey three-suite office space with upgraded HVAC, sound control, and a professional interior ready for an owner-user or investor.
      3440 Eldorado Parkway, McKinney, TX 75070
      View Details
    • $849,999

      Turnkey Medical Office Double Suite

      Built in 2015 with premium finishes, separate HVAC, and dual entrances for flexible medical or professional use.
      3600 Eldorado Parkway, McKinney, TX 75070
      View Details
    • $1,800,000

      Modern Farmhouse Office Building

      2019-built office building with a patio setting and flexible interior layout, supported by on-site parking for staff and visitors.
      299 Eldorado Parkway, McKinney, TX 75069
      View Details
    • $652,000

      Class A Office Condo

      Modern office condo in a 25-building park, offering a reception area, private offices, and ample common parking.
      1400 N Coit Road, McKinney, TX 75071
      View Details
    • $944,622

      Standalone Shell Retail Building

      Standalone shell retail with high-visibility positioning and on-site parking, ideal for custom owner-user or investor buildouts.
      5121 S Custer Road, McKinney, TX 75070
      View Details
    • $1,190,000

      Medical Office Condo Building

      Office and medical office condo units offered for sale, suited for practitioners and investors seeking a multi-unit workplace.
      7605 Virginia Parkway, McKinney, TX 75071
      View Details
    • $6,600,000

      Flex Car Wash Facility

      Built in 2022 with a high-capacity tunnel, multiple pay stations, vacuums, and detail bays for efficient, modern operations.
      5001 Mckinney Ranch Parkway, McKinney, TX 75070
      View Details
    • $350,000
      1,021 SF

      Creative Office with Covered Patio

      Creative office with a large covered patio, recent upgrades, and remodeled interior space suited for a small business.
      312 Cloyd Street, McKinney, TX 75069
      View Details

    FAQs

    What type of property is this?
    Commercial land - A corner tract with commercial zoning, multiple entrances, and existing retail and storage buildings for flexible redevelopment.
    Where is this commercial land located?
    The property is located at 3565 Fm 1461 McKinney, TX.
    What is the asking price?
    The asking price for this property is $4,200,000.
    What are key features of this property?
    This property features: 7.72‑acre corner lot in the ETJ of McKinney with 432 ft frontage to FM 1461‑Lake Forrest Rd; Front 3 acres zoned Commercial; back 4.72 acres has 1D1 Ag exemption; Includes 1,225 SF retail office space building plus an 8,349 SF outdoor warehouse building
    (972) 533-4422
    We can help!
    Listing Contact
    Todd Milligan
    Todd Milligan
    Real Estate License ID: 0742321
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    3565 Fm 1461, McKinney, TX 75071
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!